What types of financial aid are available?

In addition to keeping our tuition affordable, Robert Morris University ensures its education is accessible by participating in a wide variety of financial aid programs. The links below describe them in detail. You automatically apply for all of them when you complete the FAFSA form.

For additional information on State of Illinois Student Aid, visit CollegeZone .

Federal Pell Grant
The Pell Grant does not need to be repaid. The maximum award in 2010-2011 is $5,550 if the student has a 0 Estimated Family Contribution (EFC). As the EFC increases, the Pell award decreases. Students with an EFC above 4617 are ineligible for a Pell award. Students can receive the award during six quarters in a fiscal year (July 1 to June 30). You are encouraged to complete all courses each quarter. Dropping or failing courses can result in the reduction of your quarterly Pell award.

Federal Academic Competitiveness Grant Program (ACG)The ACG Program awards grants to help eligible financially needy first and second year undergraduate students meet the cost of their postsecondary education.The student must be; a U.S. citizen or an eligible non-citizen; a Pell recipient; have completed a rigorous secondary school program of study, and enrolled full time in a degree granting program. First year students must have graduated after January 1, 2006. The maximum annual award is $750, distributed equally over the academic year. Second year students must have graduated after January 1, 2005, and have a cumulative college GPA of 3.0. The maximum annual award is $1,300, distributed equally over the academic year.

Federal National SMART Grant Program (SMART)The National SMART Grant Program awards grants to help eligible financially needy third and fourth year undergraduate students who are pursuing eligible majors, meet the cost of their education. The approved eligible majors include physical, life or computer sciences, mathematics, technology, engineering or a critical foreign language. The student must be a U.S. citizen or an eligible non-citizen; Pell eligible; enrolled full-time in an eligible major and have a cumulative college GPA of 3.0 or higher. Third and fourth year students can receive a maximum award of $4,000 per year.

State of Illinois MAP Grant
The State of Illinois MAP Grant does not need to be repaid. The maximum award in 2010-2011 is $4,968 for a student with a 0 EFC. As the student's EFC increases, the MAP award decreases. Funding is based on approval from the Illinois Legislature. Students with an EFC above $9,000 are ineligible for MAP. In the past, each time a student received a MAP grant they were assessed eligibility units according to their enrollment status (full time, half time, less than half time.). Starting with the 2004-05 academic year, eligibility for a MAP grant is no longer being tracked by eligibility units, but will be tracked by the equivalent number of semester credit hours of MAP benefits paid on your behalf. This is called MAP Paid Credit Hours. A recipient may receive the equivalent of 135 semester credit hours of MAP benefits paid. A recipient may use no more than 75 Map Paid Credit Hours while enrolled at the freshman or sophomore level. Students can receive one-third of the award during three of the five quarters in a fiscal year. The May quarter is an ineligible MAP quarter for all students.

This program is administered by the Illinois Student Assistance Commission (ISAC) and assists Illinois residents who attend an approved Illinois college. ISAC rules limit eligibility to dependent students whose parents are Illinois residents and to self-supporting students who have resided in Illinois 12 continuous months from June 30, 2009 to June 30, 2010.

Federal Supplemental Educational Opportunity Grant (SEOG)
SEOG does not need to be repaid. This grant program is funded by the Federal Government, but it is administered by RMU. SEOG is reserved for Pell-eligible students who have the lowest EFCs. Most SEOG awards are made to freshmen and sophomores since the RMU Board of Trustees Grant is awarded to juniors and seniors who are enrolled full-time and are graduates of RMU's Associate Degree program.

Federal Perkins Loan
This program is funded by the Federal Government and RMU. Students receive this loan from RMU, and it must be repaid to RMU after the student graduates or withdraws from the University. The interest rate is 5% and no interest is charged while the student is enrolled at least half-time. The funds are very limited. The average loan awarded is $1,500 per academic year. The minimum repayment is $40 per month and begins nine months after the student leaves school or drops below half-time enrollment.

Federal Direct Subsidized Loan
A subsidized loan means that the Federal Government pays the interest to the lender while the student is in school and during other periods when the borrower is not required to make payments. Students must begin repaying this loan six months after leaving school or dropping below half-time enrollment. The interest rate may not exceed 8.25% and changes every July 1st based on the Federal T-bill rate. The interest rate in effect from July 1, 2010, to June 30, 2011 is 5.60% for students in repayment.

When a student's EFC is subtracted from the student's cost of attendance, the result must be greater than zero for a student to be eligible to borrow this loan. Borrowing is limited by other aid the student has been awarded, as well as the following annual maximum loan limits:

$3,500 for first-year undergraduate student.

$4,000 for second-year undergraduate student.

$5,500 per year for the remaining years of undergraduate study.

Annual loan limits are prorated when the final period of enrollment is less than an academic year.

A student must sign a Master Promissory note with the Department of Education's William D. Ford Direct Loan Program. A Financial Services Advisor will assist the student in completing all the documentation.

Federal Direct Unsubsidized Loan
An unsubsidized loan means that the Federal Government does not pay the interest on behalf of the student. Instead, the borrower pays all of the interest that accrues throughout the life of the loan, including interest that accrues while the borrower is enrolled in school. Interest that accrues while the borrower is enrolled may be paid in one of two ways. The borrower can either pay the interest as it accrues or have it capitalized. Capitalization of interest means that it is added to the loan principal and must be repaid when the borrower leaves school. The important thing to note is that capitalized interest becomes principal in this process. Thus, students who use this option will end up paying interest on accrued (and then capitalized) interest. Only independent students and dependent students whose parents are unable to secure a Federal PLUS Loan are eligible for the additional unsubsidized loan. Students' enrollment status must be at least half-time or eight credit hours. Students must begin repayment six months after leaving school or enrolling less than half-time. The maximum interest rate is 8.25 percent, and it is recalculated every July 1 based on the Federal T-Bill rate. From July 1, 2010 to June 30, 2011 the interest rate during in-school, grace, and deferment is 6.80%. To determine eligibility, RMU subtracts any estimated financial assistance the student will receive, including subsidized loans, from a student's cost of attendance, and the result is the maximum amount a student can borrow, provided it is below the following annual maximum amounts:

$2,000 each academic year for undergraduate study (all students).

Additional Unsubsidized Loans

$6,000 each academic year for students in their first and second years of undergraduate study.

$7,000 each academic year for the remaining years of undergraduate study.

Annual loan limits are prorated when the final period of enrollment is less than an academic year. A student must sign a Master Promissory note with the Department of Education's William D. Ford Direct Loan Program. A financial services advisor will assist the student in completing all the documentation.

Federal Plus Loan
This program enables graduate students and parents of dependent undergraduate students to borrow federal loan money to help pay the educational cost . In order for a borrower to secure a PLUS loan, the borrower must meet all the criteria listed under Eligibility Criteria . Also, a borrower cannot have an adverse credit history. The student must be enrolled at least half-time. While there are no annual or cumulative borrowing maximums, eligible borrowers may not borrow more than the difference between the student's cost of attendance including all other financial aid and other resources the student will receive. The Department of Education deducts a 3-4% fee from the gross loan amount. The borrower is responsible for all interest that accrues on the loan, including periods when the student is enrolled and during periods of deferment and forbearance. Interest begins to accrue as soon as the loan funds are disbursed by the Department of Education to the school. The interest rate is variable but may not exceed 9%; the current rate from July 1, 2010 to June 30, 2011 during in school and repayment is 7.90%.

The first payment of interest and principal for Federal PLUS Loan borrowers is due 60 days after the loan is fully disbursed. Borrowers who qualify for a deferment may have payment of their loan principal deferred and pay only the interest on the loan. Or they may capitalize the interest, which means that it will be added to the loan principal. A financial services advisor can assist parents in applying for a PLUS loan.

Federal Work Study Program
Federal Work Study (FWS) is a federally funded program that allows currently enrolled students to work part-time while attending school. These positions can be located off- or on-location. Students who are interested in applying for Federal Work Study must follow the steps indicated below:

Students should see their financial services advisor to determine whether they are eligible to participate in this program. Students must have "unmet need."

Robert Morris University Illinois is a private, not-for-profit associate, baccalaureate, and master's degree-granting institution, accredited by the Higher learning Commission of the North Central Association of Colleges and Schools (230 South LaSalle Street, Chicago, Illinois 60604, 312.263.0456). Robert Morris serves over 7000 students interested in getting an education that meets the demands of today's business, graphic arts, health care, culinary and technical world at its main campus in Chicago as well as at locations in Arlington Heights, DuPage, Elgin, Orland Park, Bensenville, Schaumburg, Springfield, Peoria and Lake County.